Poland is the CSE leader in real estate investments

Warsaw, Poland (Daniel Kulinski, CC BY-NC-SA)

EIB with a loan for gas interconnector between Bulgaria and Greece

Latvian GDP is 1 per cent smaller as a result of 2017 tax reform

Poland

In H1’19, Poland attracted more real estate investment than Czech Republic, Slovakia, Hungary, Romania and Bulgaria combined, KPMG consulting company reported. In this period in general EUR5.5bn was invested in the six biggest markets of the CSE region, KPMG informed.

44 per cent of all CSE real estate investment was in the office buildings construction.

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Bulgaria

The European Investment Bank (EIB) will provide a EUR110m loan for the construction of a natural gas systems interconnection facility between Bulgaria and Greece (ICGB). The interconnector will also help to establish a link with the Trans Adriatic Gas Pipeline (TAP), which runs from east to west through northern Greece.

The 182 km-long gas pipeline comprises 151 km in Bulgaria and 31 km in Greece. The initial capacity of the new pipeline will be 3 billion cubic meters per year (bcm/y), with a possibility of an increase up to 5 bcm/y by adding a compressor station.

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Latvia

“Latvia has been losing around 1 per cent of GDP each year due to the loss of budget revenues resulting from the 2017 tax reform,” Inna Steinbuka, a member of the Fiscal Discipline Council, told LETA news agency.

Ms. Steinbuka stressed that the negative effect was caused primarily by decrease of revenues from corporate income tax. “This year, for instance, there is a plan to collect around EUR200m in corporate income tax, but only EUR18m have been collected so far,” Mrs. Steinbuka said. 

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What’s up in indexes

BET (of Bucharest) decreased from 9504.35 index points Wednesday, October 9th to 9502.16 index points Thursday, October 10th. It’s down 0.06 per cent d/d and up 11.9 per cent y/y.

BUX (of Budapest) decreased from 39545.00 index points Wednesday, October 9th to 39466.00 index points Thursday, October 10th. It’s down 0.20 per cent d/d and up 7.18 per cent y/y.

OMXR (of Riga) increased from 1024.53 index points Wednesday, October 9th to 1036.70 index points Thursday, October 10th. It’s up 1.19 per cent d/d and up 7.75 per cent y/y.

OMXT (of Tallinn) increased from 1232.75 index points Wednesday, October 9th to 1235.43 index points Thursday, October 10th. It’s up 0.22 per cent d/d and up 0.90 per cent y/y.

OMXV (of Vilnius) increased from 691.60 index points Wednesday, October 9th to 693.79 index points Thursday, October 10th. It’s up 0.32 per cent d/d and up 4.10 per cent y/y.

PX (of Prague) increased from 996.62 index points Wednesday, October 9th to 997.28 index points Thursday, October 10th. It’s up 0.07 per cent d/d and down 9.10 per cent y/y.

RTS (of Moscow) increased from 1317.48 index points Wednesday, October 9th to 1330.92 index points Thursday, October 10th. It’s up 1.02 per cent d/d and up 16.4 per cent y/y.

SAX (of Bratislava) increased from 346.63 index points Wednesday, October 9th to 347.10 index points Thursday, October 10th. It’s up 0.14 per cent d/d and up 4.44 per cent y/y.

SOFIX (of Sofia) decreased from 559.20 index points Wednesday, October 9th to 557.40 index points Thursday, October 10th. It’s down 0.71 per cent d/d and down 9.72 per cent y/y.

UX (of Kyiv) decreased from 1528.87 index points Wednesday, October 9th to 1517.94 index points Thursday, October 10th. It’s down 0.71 per cent d/d and down 9.54 per cent y/y.

WIG20 (of Warsaw) decreased from 2134.37 index points Wednesday, October 9th to 2122.99 index points Thursday, October 10th. It’s down 0.53 per cent d/d and down 3.38 per cent y/y.

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